Boat Repair Business: What Kind of Insurance Do You Need?

boat repairers liability insurance

Boat Repair Business: What Kind of Insurance Do You Need?

When you open a business, you have to prepare for catastrophes. Insurance is a crucial part of your business plan and without it, a disaster or unforeseen circumstance can completely devastate your business. In boat repair, this is no different. Find out more about the coverages that you should consider when choosing boat repairers liability insurance.

General Liability

General liability protects your business against lawsuits. Say that you’re named in a lawsuit due to a fire caused by one of your workers or an equipment fall that led to injury or worse. Accidents happen and you need to be prepared.

Business Interruption

If you suffer a loss that prevents your company from performing its regular duties, then you need business interruption to step in. This pays for lost earnings while you are recovering from the loss.

Building Coverage

Even if you have to do your repairs on the water, odds are you have a shop where you keep the supplies. You still need building coverage to protect against vandalism, fire or other damages. If a total loss occurs, insurance needs to cover it.

Boat repairers liability insurance is crucial when you own your own repair business. If you lack protection, it can completely devastate your company in the future. After all, no one can predict when an accident may happen.